EXHIBIT 31(b)

                            CERTIFICATION PURSUANT TO
    RULES 13A-14(a) AND 15D-14(a) UNDER THE SECURITIES EXCHANGE ACT OF 1934,
                                   AS AMENDED

I, Peter Graham, certify that:

(1)           I have reviewed this quarterly report on Form 10-Q of Municipal
              Securities Purchase, Inc.;

(2)           Based on my  knowledge,  this  report  does not contain any untrue
              statement  of a  material  fact or omit to state a  material  fact
              necessary  to  make  the   statements   made,   in  light  of  the
              circumstances   under  which  such   statements   were  made,  not
              misleading with respect to the period covered by this report;

(3)           Based  on  my  knowledge,  the  financial  statements,  and  other
              financial  information included in this report,  fairly present in
              all  material  respects  the  financial   condition,   results  of
              operations  and cash flows of the  registrant  as of, and for, the
              periods presented in this report;

(4)           The registrant's  other  certifying  officer and I are responsible
              for   establishing   and  maintaining   disclosure   controls  and
              procedures  (as  defined  in  Exchange  Act  Rules  13a-15(e)  and
              15d-15(e)) for the registrant and have:

              (a)   Designed such disclosure controls and procedures,  or caused
                    such disclosure controls and procedures to be designed under
                    our  supervision,   to  ensure  that  material   information
                    relating  to the  registrant,  is made known to us by others
                    within the entity,  particularly  during the period in which
                    this report is being prepared;

              (b)   Designed such internal control over financial reporting,  or
                    caused such internal control over financial  reporting to be
                    designed  under  our  supervision,   to  provide  reasonable
                    assurance  regarding the reliability of financial  reporting
                    and the  preparation  of financial  statements  for external
                    purposes in accordance  with generally  accepted  accounting
                    principles;

              (c)   Evaluated the  effectiveness of the registrant's  disclosure
                    controls  and  procedures  and  presented in this report our
                    conclusions   about  the  effectiveness  of  the  disclosure
                    controls and procedures, as of the end of the period covered
                    by this report based on such evaluation; and

              (d)   Disclosed  in this  report  any  change in the  registrant's
                    internal  control over  financial  reporting  that  occurred
                    during the registrant's  most recent fiscal quarter that has
                    materially  affected,  or is reasonably likely to materially
                    affect,  the  registrant's  internal  control over financial
                    reporting; and

(5)           The registrant's  other  certifying  officer and I have disclosed,
              based on our most  recent  evaluation  of  internal  control  over
              financial  reporting,   to  the  registrant's   auditors  and  the
              registrant's board of directors:

              (a)   All significant  deficiencies and material weaknesses in the
                    design or  operation  of  internal  control  over  financial
                    reporting  which are reasonably  likely to adversely  affect
                    the registrant's ability to record,  process,  summarize and
                    report financial information; and

              (b)   Any fraud, whether or not material, that involves management
                    or  other  employees  who  have a  significant  role  in the
                    registrant's internal control over financial reporting.

April 26, 2006
/s/ Peter Graham
----------------
Peter Graham
Vice President and Treasurer (Principal Financial and Accounting Officer)